Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Comex copper opened the four-day working week in the United States on weak footing on Tuesday January 22 morning, with the market awaiting clarification on US-China trade talks.The copper price for March settlement on the Comex division of the New York Mercantile Exchange tumbled $5.70 cents to $2.6620 per lb. There is a four-day week in the US this week following a public holiday for Martin...Read More
Once again the upside initiatives in three-month base metals prices on the London Metal Exchange have run into overhead resistance, with the complex down by an average of 0.4% this morning, Tuesday January 22.Other commodity prices have also shown weakness, which we put down to the focus of slower global growth after the International Monetary Fund (IMF) lowered its global growth outlook to 3.5% i...Read More
* European shares in the red* Platinum recovers from lowest in nearly three weeks * Palladium slips 1.4 pct (Updates prices, adds comment)By Eileen SorengJan 22 (Reuters) - Gold bounced back on Tuesday frommulti-week lows touched in the previous session as mountingconcerns of an economic slowdown exacerbated by a cut in theInternational Monetary Fund's global growth forecast droveinvestors to the...Read More
In the mid-January short report released by IIROC Monday, it caught our eye how little attention the shorts give to Rai Sahi's TWC Enterprises (Sunny; TWC). A minuscule 0.016% of the gold course operator's share float is shorted. Meanwhile, insider commitment is strong with insiders holding over 70% of the shares outstanding. The bulk of those insider shares are held by Mr. Sahi, who is also the...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia were mostly unchanged over the past week, with demand remaining soft, sources said on Tuesday January 22. But import offer prices for hot-dipped galvanized coil have slumped.Demand was subdued because stock levels in the UAE were already high and buyers have not yet started to place bookings in 2019, sources told Fastmarkets.In...Read More
The export market for hot-rolled coil (HRC) from the Commonwealth of Independent States (CIS) has rebounded because if lower availability of material, sources told Fastmarkets MB on Monday January 21.Buyers are in the market for material but steel mills in the region are sold out for February production, a trader from the Middle East-North Africa (Mena) region said, which is putting upward pressur...Read More
The market for hot-rolled (HR) and cold-rolled (CR) steel sheet in Russia's Central Federal District around Moscow remained inactive in the week ended January 21 due to seasonally weak end-user demand.Fastmarkets' weekly price assessment for Russia-origin 4mm HR sheet was at 39,200-40,000 roubles ($588-600) per tonne cpt Moscow on Monday January 21, including 20% VAT, slightly widening upward from...Read More
The domestic price for rebar in the United Arab Emirates fell this week on continued moderate demand, sources told Fastmarkets on Tuesday January 22.Domestic rebarLocal rebar producers in the UAE announced reduced prices for material due to be shipped in February on January 21. The country's largest producer, Emirates Steel, was offering rebar at 1,845 dirhams ($502) per tonne ex-works, down from...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebarUAE, domestic (Emirates Steel), rebar, offered at 1,845 dirhams ($502) per tonne ex-works, February...Read More
The rebar market in Russia's Central Federal District around Moscow, the major steel-consuming region in the country, remained weak and calm due to seasonally low demand this week.Fastmarkets' weekly assessment of the domestic price for Russian 12mm A500C rebar, including 20% VAT, was 35,000-35,500 roubles ($524-532) per tonne cpt Moscow on Monday December 21, widening downward from 35,500 roubles...Read More
The Turkish steel producers continued to show very little interest in deep-sea scrap trades because of the weak demand for finished steel in the country's export and domestic markets, sources said on Tuesday January 22.Although some mills have booked a few cargoes to replenish stocks over the past week, with escalating prices, most mills were trying to avoid scrap purchases until they see a recove...Read More
CloseGain/LossGold $1284.60+$3.90Silver$15.33UNCHXAU68.74+0.53%HUI152.20+0.95%GDM572.33+0.18%JSE Gold1341.80+33.06USD96.36-0.01Euro113.63-0.03Yen91.65+0.41Oil$52.57-$1.2310-Year2.739%-0.048T-Bond145.21875+0.6875Dow24404.48-1.22%Nasdaq7020.36-1.91%S&P2632.90-1.42% The Metals: Gold dipped $3.80 to $1276.90 in holiday thinned trade yesterday before it bounced back to $1284.9...Read More
By Ira EpsteinGold and silver both hold key support level of lower Bollinger Bands.https://www.iraepstein.com/ Read More
By Daniel R. Amerman, CFANumerous warning signals of a coming recession have appeared recently, and there have been rapid changes in bond prices, stock prices and Federal Reserve policies.Yet, the stock market indexes are rising again, and the economic and financial fundamentals remain strong in many ways. Are the widespread fears of recession overblown?In the search for answers, this analysis e...Read More
They say that there are no atheists in fox holes. Recently it has also become clear there are no monetary hawks in bear markets. For much of the last decade many conservative market analysts have decried our reliance on monetary stimulus to prop up the economy and the stock market. But in the final months of 2018, in the face of the worst stock market declines in a decade, many of these suppose...Read More
By Michael J. Kosares"Although it is needed in good times, it can be vital when times are difficult."As a member of the British parliament in 1999, Sir Peter Tapsell, who passed away this past August, argued vigorously to keep the government from selling off over half of the country's gold reserves. Previously, in the 1980s, Tapsell had managed a gold bullion fund, "valued at many hundreds of mi...Read More
By Keith WeinerLast week, we joked that we don't challenge beliefs. Here's one that we want to challenge today: the dollar doesn't work as a currency, because it's losing value. Even the dollar's proponents, admit it loses value. The Fed itself states that its mandate is price stability which it admits means relentless two percent annual debasement (Orwell would be proud). So there is no questio...Read More
Graceland UpdatesBy Stewart Thomson 1. Is the price correction in gold already over? 2. Please click here now. Double-click to enlarge. I told investors to prepare for a modest and healthy correction from the $1300 area, and that's happened.3. Gold hasn't even reached the first Fibonacci retracement line after staging a magnificent rally from the $1173 area. That's a sig...Read More
By Frank HolmesStrengthsThe best performing metal this week was palladium, up 4.36 percent on acute supply tightness. JPMorgan sees additional upside to the price despite weaker auto sales. Gold traders and analysts surveyed by Bloomberg remain bullish on the yellow metal for a 10th straight week even as prices remain near the $1,300 level. ETFs added gold to their holdings for the 15th straight...Read More
Phoenix, Arizona (January 22, 2019) - An Arizona legislator has put forward a bill to de-risk the state's financial holdings with a modest allocation to physical gold and silver in the state's reserve fund.Introduced by Representative Mark Finchem (R-Tucson), the Arizona Sound Money Stabilization Act (HB 2500) requires that at least 10% of Arizona's Budget Stabilization Fund be held in the monet...Read More